USD/CHF hits seven-week highs near 0.9350


  • Swiss franc weakens and turns negative for the day.
  • USD/CHF trims gains after reaching levels near 0.9350.

The combination of a weaker Swiss franc and a firm US Dollar boosted USD/CHF to 0.9344, the highest level since September 30. It then pulled back to the 0.9325 zone trimming daily gains.

The Swiss started to lose momentum during the European session following economic data from the Eurozone and then it dropped further as EUR/CHF rebounded. The cross is back above 1.0500, as it continues to recover from multi-year lows it reached last week at 1.0445.

The cautions tone across markets should keep the demand for the Swiss franc strong but at the same time, inflation pressures in the Eurozone (reflected in the PMI HIS November preliminary report) and some potential profit-taking favor a rebound in EUR/CHF and kept USD/CHF near monthly highs.

USD/CHF short-term outlook

While clearly above 0.9300, the USD/CHF could continue to look for more gains in the short-term. A slide below could alleviate the bullish pressure with the next support at 0.9250. On the upside, the immediate resistance is located at 0.9345 and then the September top at 0.9368.

Technical levels

USD/CHF

Overview
Today last price 0.9336
Today Daily Change 0.0006
Today Daily Change % 0.06
Today daily open 0.933
 
Trends
Daily SMA20 0.9192
Daily SMA50 0.9229
Daily SMA100 0.9194
Daily SMA200 0.9171
 
Levels
Previous Daily High 0.9335
Previous Daily Low 0.9267
Previous Weekly High 0.933
Previous Weekly Low 0.9187
Previous Monthly High 0.9338
Previous Monthly Low 0.9106
Daily Fibonacci 38.2% 0.9309
Daily Fibonacci 61.8% 0.9293
Daily Pivot Point S1 0.9287
Daily Pivot Point S2 0.9243
Daily Pivot Point S3 0.9219
Daily Pivot Point R1 0.9354
Daily Pivot Point R2 0.9378
Daily Pivot Point R3 0.9422

 

 

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